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GM reveals new 2022 GMC Hummer EV

General Motors unveiled its 2022 GMC Hummer EV, the company’s first electric pickup. Yahoo Finance’s Rick Newman weighs in.

Video Transcript

[MUSIC PLAYING]

JULIE HYMAN: It's time for Word on the Street where we check in with our panels, find out what stories they are watching. As we mentioned, Rick Newman has got an eye on this new electric Hummer. I mean, what's the point of the thing if it's electric. Wasn't the whole idea of the Hummer that it was big and obnoxious and gas guzzling, and if you take that away, is anybody going to want it?

RICK NEWMAN: Well, the point of the new Hummer seems to be that it's big and obnoxious, and it's not gas guzzling, and it has no emissions. So I think what GM is trying to do with this vehicle, which they've just unveiled last night, and they're going to give more details later today, I think they're trying to showcase everything they got at GM. It sounds to me like they're just putting all of the coolest technology they can showcase into this one vehicle, so it's the power plant, the electric power plant.

This truck will be able to go from zero to 60 in three seconds. That's completely unnecessary and totally insane. It's a huge vehicle. It's going to have giant ground clearance, and it's going to have all these gizmos on it that are like a sci-fi vehicles, so it's got a thing called crab walk, which if you're deeply off road and you have to go sort of diagonally through some rocks, this thing can actually drive diagonally. You can push a button and get an extra six inches of ground clearance as, you know, the shock absorbers raise the vehicle.

So what GM is basically doing with this thing is I think they are saying to Tesla, we got some magic too. Now, they have to execute this thing really has to, you know, pull its weight, so to speak, and it is going to start at more than $110,000, so. But that price tag tells me that GM is just saying, we're putting everything we got into this vehicle.

JULIE HYMAN: I'm very curious to see how it's going to sell. Thank you, Rick.